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2020 1099s

  • 1.  2020 1099s

    Posted 29 days ago
    Has anyone found an easy way to categorize your vendors such that the reporting requirements of the 2020 1099 form is more intuitive. For example, there does not appear to be anything in vendor set up that would tell me "why" I have checked the 1099 yes/no box. If I am reviewing my vendors I have to access the attached W9 to even determine if they are excludable because they are a C corp or an S corp. I would appreciate any help or feedback in this regard.

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    Kathy Mueller
    Controller
    Bob Evans Restaurants
    New Albany OH
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    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 2.  RE: 2020 1099s

    Posted 28 days ago
    Kathy,
    You can leverage your naming convention for file attachments (e.g. include Y/N in the file name).  Additionally, without creating new fields, you can leverage your VendorGroups to organize resellers vs. casual labor etc.  On a related issue, please note that the 2020 1099-MISC form has changed box numbers and also there is a new 1099-NEC form.
    Jim

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    James Sonne
    sonnej@365FinanceArchitect.com
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    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 3.  RE: 2020 1099s

    Posted 19 days ago
    Thanks James. It just seems like there should be fields in vendor set up that match the W-9 and are reportable. That would be a very simple way to analyze our vendors to determine if you have set up correct. We use Vendor Groups for a different purpose and they are not related to 1099 reporting at all.

    Kathy

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    Kathy Mueller
    Controller
    Bob Evans Restaurants
    New Albany OH
    ------------------------------

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


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